China cut May oil imports to 7.8 million bpd, blunting feared Strait of Hormuz shock

Global oil markets avoided the kind of shock many feared as tensions among the US, Israel and Iran rose, despite warnings that disruption in the Strait of Hormuz could send prices sharply higher. Bloomberg energy analyst Javier Blas argued that China acted as a demand-side “swing importer,” cutting May crude imports to 7.8 million barrels a day, the lowest in eight years. Seaborne inflows fell to a 10-year low and more than 45% below their 2025 average, a reduction comparable to the combined oil consumption of Germany, France and the United Kingdom. The article says China drew on strategic reserves, accelerated electric-vehicle use and leaned more on coal power and coal-to-chemicals, weakening the transmission of geopolitical risk into oil prices.